I used Acrobat X's OCR feature wich seems to work quite well... It does all the normal stuff like giving you the option to fix up and suspect conversion issues. After correcting any suspects I then went to save the file as a document that I could then forward to sombody to edit... Say Microsoft Word.

When I went File->Save->Microsft Word->Word Document and selected the location, I could see in the little status bar down the bottom that Acrobat X went through what looked like another OCR process. And sure enough when I opened up the file the Word document contained all the un-fixed suspects in it.

Can anybody else confirm this behaviour, tell me if I am missing something or tell me a possible work around?